Senegalese authorities is set to receive a $1 billion investment commitment from the International Finance Corporation (IFC), the private sector arm of the World Bank Group, aimed at accelerating development in infrastructure, energy, and agriculture.
The Director General of the IFC, Makhtar Diop, made the announcement during an interview with local newspaper Le Soleil. He revealed that the investment aligns with the new government’s public policy framework under the Vision Senegal 2050 agenda.
Mr Diop explained that the funding will target several key sectors, including retail, pharmaceuticals, and agriculture. He also pointed out that many local enterprises suffer from a lack of equity capital and depend heavily on bank loans, which often leads to financial instability.
The IFC’s support is expected to play a pivotal role in strengthening private sector resilience and fostering inclusive economic growth across Senegal.
